Ukraine Industrial production July 2020


Ukraine: Decline in industrial activity softens in July

August 25, 2020

Industrial production fell 4.2% over the same month last year in July, after it dropped 5.6% in June—marking the softest decline since February.

Looking at the details of the release, July’s weaker decline was driven by a rebound in utilities supply output and a less severe contraction of the mining and quarrying sector. Manufacturing production, however, declined at a sharper pace than in June.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.5%, down from June's minus 5.0%.

FocusEconomics Consensus Forecast panelists project that industrial output will fall 6.8% in 2020, which is down 0.4 percentage points from last month’s forecast. For 2021, the panel sees industrial production rising 3.5%.

Author:, Economist

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Ukraine Industrial production Chart

Ukraine Industry July 20 20

Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.

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